- 10 July 2016
Rate Club - July 10, 2016
Mortgage Lending Figures Are In!
- VIC - leading the way with 16.6% of mortgage increases
- NSW - 12.2%
- SA - was up 12.2% aslo
- QLD - 4.5%
- WA - there was a drop of 13.4% in mortgages
A great sign was that the non-majors have lifted their share to 29.1% of the market. These figures have come from AFG.
People always fix at the wrong time in response to banks advertising. From the start of the last financial year fixing was 14.5% this jumped to 20% in April and May. This was in response to the banks urging. Right before the rate drop!! Fixers lost! Take a look at my response to this weeks interest rate decision from the Reserve Bank of Australia with Phil Hill.
You watch, they will start pushing rates again soon knowing that the rates will drop yet again! I guess that is the benefit of the club. We have the time and experience with when to fix and when NOT to fix. It’s all about education and helping others with their property and their finance. Each person’s situation is different so if you have been advised to fix, I would suggest getting more information before you do. We have strong relationships with our Club approved brokers, who are ready to assist and get you the best deals. Simply contact your Property Mentor if this is you. Hope this helps you.
Regards,
Kevin Young
Related Posts
No Storm Surge Here: Brisbane’s Budget Holds Steady for Investors
In the wake of ex-Tropical Cyclone Alfred, which brought Brisbane its wettest day in 50 years with over 420mm of rain in some suburbs and winds reaching up to 60 km/h, the city faced significant recovery challenges. Despite the extensive damage, including power outages affecting over 56,000 homes and businesses,...
Stamp Duty Doesn’t Have to Hurt — Here’s Where It Doesn’t
Stamp duty isn’t the most exciting part of buying property, but it can seriously shape what you can afford and how quickly you can grow your portfolio. A national report by SQM Research for the Real Estate Institute of Australia (Stamp Duty: The Relationship to Australian Housing Affordability and Supply, October...
Don’t Just File Your Tax. Use It.
EOFY is coming, and most Australians are getting ready to tick the box, lodge the return, and move on. But smart investors know this isn’t just the end of a financial year — it’s a checkpoint. This is your chance to stop handing over more tax than you need to. And property could be the most powerful tool you’re not...